Thanks. I couldn't tell if the coin has a rotated reverse, or PCGS didn't place it upright correctly.
It looks like a very nice coin. You may want to send it to this guy for photography: http://www.cointalk.com/t218784/ It looks like a very nice coin. I remember buying my 1904 Indian cent on a bid board when I was about 12 years old. I vividly remember paying $5 for it. It is worth a few dollars more today. :smile If you want to see it, I'll look for a photo.
It looks like a full five-degree rotation. Was the mint OK with that in 1904? I don't know much about that sort of thing. It's a gorgeous piece.
The coin is definitely not aligned in the holder correctly. I'm thinking that's most or all of the rotation you're seeing.